financial crisis
Listen to the bankers to fix the bank crisis — not Biden or Yellen
Let the banks pay the price — so Joe Six Pack doesn’t have to.
Peter Thiel risked losing $50M in SVB even as his firm sounded alarm
The venture capitalist left $50 million of his own cash in doomed Silicon Valley Bank -- even though his company had raised the loudest alarm leading to its panicked shutdown...
FDIC chair sounded alarms over US bank risks -- just days before SVB implosion
Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), made the comments to finance lobbyists last Monday.
United Furniture employee 'couldn't believe' termination text
Toria Neal and other workers at United Furniture Industries were shocked this week when the company canned all 2,700 of them at once.
US furniture company lays off all 2,700 employees while they were sleeping
United Furniture Industries left its entire 2,700-person workforce unemployed just two days before Thanksgiving.
Jamie Dimon says US, world headed for recession in 2023: 'This is serious stuff'
Dimon cites a "very, very serious" combination of headwinds, including inflation, high interest rates, and the Russian war in Ukraine.
New US hospitals face fiscal crisis over COVID-19 relief money
At Thomasville Regional Medical Center, officials have worked more than a year to convince federal officials they should have gotten $8.2 million.
Economist who predicted 2008 financial collapse warns of a new disaster
Nouriel Roubini, the economist who correctly predicted the 2008 financial collapse, is waiving a red flag about another imminent disaster.
Coronavirus could still spark US financial crisis, Fed warns
The coronavirus pandemic could still plunge the US into a financial crisis even though the economy has started to get back on track, a Federal Reserve honcho warns. With infections...
Investment professionals say 'don't panic' amid coronavirus fears
It’s a wild ride, but just hang on. Investors can survive and eventually prosper despite the horrific pandemic-driven stock market gyrations we are experiencing, investment professionals say. “Don’t panic. Never...
The looming crisis that America must grapple with in the 2020s
The United States is at the beginning of a crisis that will increase over the next decade. The good news is we’ve been here before. The bad news is it...
Iranians desperate for cash turn to selling their organs
Dozens of notes stuck to an abandoned building opposite a hospital in Tehran tell a devastating story: Iranians who have fallen on hard times are offering to sell their organs...
Will financial markets get a break from Washington chaos?
In case you are wondering whether the financial markets are going to get a break from all the chaos going on in Washington, here’s your answer. It turns out Justice...
Mortgage crisis 'villain' Angelo Mozilo: 'I don't care' anymore
Angelo Mozilo is done being the villain. Speaking at an exclusive hedge fund conference in Las Vegas this week, the disgraced former head of Countrywide Financial said he doesn’t care...
Puerto Rico won't recover from bankruptcy unless it embraces fiscal reform
Puerto Rico is in trouble. Hurricane Maria battered the island in 2017, killing nearly 3,000 people, destroying 85% of the housing stock and causing $90 billion in damage. More than...
Food, medicine shortages hit Cuba, raising fears of new economic crisis
CUBA — Just after 8 a.m., Pura Castell got in line behind about 100 other people waiting for a chance to buy frozen chicken legs. For two hours she leaned...
Lawmakers grill Wall Street bigwigs over risks to US economy
The titans of Wall Street got hauled onto Capitol Hill on Wednesday to get grilled about whether their “too big to fail” banks could crash the economy. The chief executives...
FBI union says the shutdown is harming investigations
The union representing more than 14,000 current and former FBI agents released a report Tuesday detailing how the government shutdown was damaging their work — and their lives. “’Voices from...
Struggling Queens Tribune searching for new financing
The Queens Tribune, a weekly started nearly 50 years ago by longtime Congressman Gary Ackerman is searching for new financing. “It’s another sad day for print journalism,” said Ackerman —...
This secretive group intervenes in moments of financial crisis
It’s time I tell you about the mysterious President’s Working Group on Financial Markets. It is also known as the Plunge Protection Team, or the PPT to the true believers....